Grail (NASDAQ:GRAL) Shares Down 4.5% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) traded down 4.5% during mid-day trading on Monday . The stock traded as low as $28.32 and last traded at $28.40. 246,749 shares traded hands during trading, a decline of 80% from the average session volume of 1,222,546 shares. The stock had previously closed at $29.74.

Analyst Ratings Changes

Separately, Morgan Stanley assumed coverage on shares of Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective on the stock.

Grail Stock Performance

The company’s fifty day moving average is $31.81 and its 200-day moving average is $21.39.

Grail (NASDAQ:GRAL) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $35.33 million. As a group, equities analysts predict that Grail, Inc. will post -15.15 EPS for the current year.

Insider Activity at Grail

In other Grail news, CEO Robert P. Ragusa sold 7,625 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the transaction, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aaron Freidin sold 1,816 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the sale, the chief financial officer now directly owns 335,170 shares in the company, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock worth $360,436 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GRAL. Douglas Lane & Associates LLC purchased a new position in Grail in the 4th quarter valued at about $3,034,000. A. D. Beadell Investment Counsel Inc. purchased a new position in Grail in the 4th quarter valued at about $430,000. FNY Investment Advisers LLC acquired a new stake in Grail in the 4th quarter valued at about $26,000. 180 Wealth Advisors LLC acquired a new stake in Grail in the 4th quarter valued at about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Grail in the 4th quarter valued at about $387,000.

About Grail

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.